Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the LF Woodford Equity Income Fund investigation.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
Treasury ministers and officials have regular engagement with the Financial Conduct Authority (FCA). As was the case with previous administrations, it is not the Government’s practice to provide details of all such meetings.
The FCA has been investigating the events leading to the suspension of the Woodford Equity Income Fund, as the independent regulator responsible for the supervision and regulation of conduct in financial services. While the Treasury continues to follow this case closely, it is the responsibility of the FCA to investigate and decide upon the appropriate course of action.
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many settlement payments his Department issued following claims of (a) bullying, (b) harassment and (c) discrimination in the (i) 2019-20, (ii) 2020-21, (iii) 2021-22 and (iv) 2022-23 financial years.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
HM Treasury have not issued any settlement payments for bullying, harassment or discrimination claims for the financial years 2019-2023.
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much his Department spent on press and public relations in each financial year since 2019-20.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
HM Treasury's annual report offers a comprehensive account of the Treasury Group's use of resources and provides information about the Treasury's core activities. The budget for the Communications Team, including press activities, is incorporated within this report
https://www.gov.uk/government/collections/hmt-annual-report
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 21 November 2023 to Question 1954 on Revenue and Customs: Staff, how many and what proportion of the 17,300 customer compliance staff work on matters relating to the UK's departure from the EU.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
HMRC does not segment its data in this way, and therefore this information would only be available at disproportionate cost.
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much revenue has been collected from the ordering of new (a) passports and (b) driving licences in each of the last three financial years.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
In each of the last three financial years the income collected from the ordering of new driving licenses is:
- 2020/21 - £86.3m
- 2021/22 - £117.8m
- 2022/23 - £123.5m
The income collected from new passports is published in Home Office’s Annual Report and Accounts. Data for the specified years is available through the following links.
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of freezing ISA allowances on tax revenues in each year between 2023-24 and 2028-29.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
As set out in the Autumn Statement on the 22nd of November 2023, the effect on tax revenues of maintaining subscription limits at current levels for 2024-25 for Adult, Junior, Lifetime ISAs and Child Trust Funds are as available at : Autumn_Statement_2023_Policy_Costings_-_Final.pdf (publishing.service.gov.uk)
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the annual tax revenue accrued by not raising the ISA subscription limit.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
As set out in the Autumn Statement on the 22nd of November 2023, the effect on tax revenues of maintaining subscription limits at current levels for 2024-25 for Adult, Junior, Lifetime ISAs and Child Trust Funds are as available at : Autumn_Statement_2023_Policy_Costings_-_Final.pdf (publishing.service.gov.uk)
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of tax reliefs in (a) freeports and (b) investment zones on tax revenues in each financial year between 2023-24 and 2028-29.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The Office for Budget Responsibility has published estimates for the potential impact of the Freeport tax reliefs in England, Scotland and Wales in economic and fiscal outlook publications at previous fiscal events as below:
- English Freeports: CP 545 – Office for Budget Responsibility – Economic and fiscal outlook – October 2021 (obr.uk) (page 205)
- Scottish Freeports: Economic and fiscal outlook - March 2023 (obr.uk) (Page 160)
- Welsh Freeports : Fiscal_supplementary_tables_receipts_and_other_November_2023.xlsx (live.com)
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an estimate of the impact of inflation on the average price of a (a) turkey, (b) Christmas pudding, (c) bottle of brandy and (d) Christmas cracker in each of the last three years.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Office for National Statistics are responsible for collecting and publishing official statistics including inflation. Where data for these items are collected they can be found online here: https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflation or alternatively in ONS’s shopping price comparison tool, which can be found online here: https://www.ons.gov.uk/economy/inflationandpriceindices/articles/shoppingpricescomparisontool/2023-05-03.
Asked by: Sarah Olney (Liberal Democrat - Richmond Park)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what was the cost to the public purse of tax compliance cases in each of the last five financial years.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
HMRC does not track the value directly spent on tax compliance cases.